Payroll processing, taxes calculation, including associated reporting. Plus guidance on critical HR processes and documentation requirements.
Payroll processing can be one of the biggest expenses a company faces and one of the most complex.
A common mistake that can cause significant issues is processing inaccurate information. The result maybe overpaying or underpaying staff and the time and effort required to put it right.
Businesses frequently have many different types of employees, including full-time, part time and independent contractors and those on commissions and bonuses. Each have different tax and reporting requirements. Misclassification can restrict benefits such as pensions or car allowances or cause serious tax implications.
It requires skilled Payroll and HR Administrators to ensure the accuracy and timeliness of payroll processing. However, with the current shortage of payroll skills, access to this can be difficult.
The increased time and money for recruiting and training staff, can be a real burden for businesses. This is especially true at peak times with increased overtime payments, part time workers and attrition where the volume of work may become unfeasible.
A payroll bureau could offer a solution. But for many the service is too prescriptive or the offering too inflexible for their particular needs.
Software can help with payroll automation. However, it can be difficult to determine the right one for your current and future needs. It also requires investment and training and doesn’t eliminate the other payroll issues that require skill and knowledge.
Keeping up to date with changing laws and regulation is another layer of complexities for businesses. Non compliance with HMRC can have serious implications, as well as adversely affecting employees.
Understanding all the necessary processes, document requirements and having the skills to ensure complete accuracy is vital, but not always easy. Parseq can give you a payroll processing solution that is.
Market shortage of payroll skills increasing cost and attrition.
Inaccurate information can lead to costly mistakes.
Multiple employee types, with different tax requirements.
Mistakes and changing laws and regulations can cause compliance and HMRC issues.
Unfeasible volume with over-time payments and additional staff at peak times.
Increased in-house team costs.
A scalable service that uses highly skilled people and best in class technology for automated, easy payroll processing.
We take the burden out of your payroll processing and associated HR requirements, giving you a flexible and scalable solution to meet your individual needs.
In addition to providing accurate and fully compliant weekly or monthly payroll, we can fully process the payments via online banking or electronic funds transfer. This ensures payment to your staff is fast and on time. Or if it suits your banking requirements better, you can arrange payment yourselves. If you already have an online payslip system, we can integrate into this. Otherwise we can provide this for you.
To ensure accurate information, we can integrate your timesheets and data capture tools into our payroll system. Alternatively we can also develop tools to collect timesheet information by person / by project / department / cost centre – if you require them. This gives you an extra layer of visibility and cost allocation in addition to ensuring accurate payments are made to staff.
We calculate employee and employer pension contributions and make payments into pension schemes on their behalf. Pension membership records are updated and auto-enrolment documents are completed.
Our expert payroll staff ensure all your HMRC returns and reporting is completed, including RTI reporting.
For easier compliance and understanding, we provide practical employment advice and guidance on critical processes and documentation requirements. You can choose to access up-to-date information via an online portal or elect for a bespoke service with advice and management of such things as redundancy/TUPE “at risk” consultation programmes. You can ask us to issue documents, such as new starter contracts or you can retain this task. This gives you flexibility according to your business needs and type of operations.
Our payroll processing and HR consultancy, provides you with a consistent quality service at a lower cost , without the burden of recruitment, training and internal running costs. It also gives you easy access to expert advice to manage unexpected or complex situations as well as ensure general regulatory compliance and accuracy.
Whatever your payroll and HR needs, we can provide a service that provides real value with the flexibility you need.
Fully compliant weekly or monthly payroll.
Pension contribution calculations and payments.
Integration into client timesheets or data capture tools – or provision of these.
Practical employment advice and guidance on critical processes and documents. Online or bespoke.
HMRC returns and reporting, including RTI.
Flexible service according to your needs and operations.
Integration of timesheets for accurate hours and payment.
Significant cost saving versus your current in-house running costs. No recruitment or training.
Use existing systems or protocols or let us develop them.
Expert advice and guidance available at all times for full compliance. View our certifications here.
Accommodates any level of payroll and peak times.
A fully managed management accounts service with rapid insight and cost saving across multiple accounts from month 1.
Full credit management services including invoice production, voice contact, query investigation and resolution to industry leading KPIs.
Data extraction and validation of invoices (digital or paper).
Want to find out more? We would be happy to discuss your organisation’s challenges and how Parseq’s solutions could quickly provide you with real value.